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Prepare a merchandise purchases budget for the given months

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Question: 1. The Candy Shoppe reports the following sales forecast: August, $110,000; September, $120,000. Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September.

2. Li Company forecasts unit sales of 640,000 in April, 720,000 in May, 780,000 in June, and 620,000 in July. Beginning inventory on April 1 is 192,000 units, and the company wants to have 30% of next month's sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June.

Reference no: EM131539232

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